USATF just announced this on Twitter (the link on their site isn't working right now).
Not a huge surprise. USATF had never even officially announced a date or venue (it was supposed to be February 20-21 in Albuquerque), so can they even say it was "cancelled"? Regardless, it's not happening.
I'm conflicted about this news. Part of me thinks it's not a huge deal. Many top pros skip USA Indoors, especially during a non-Worlds year. And indoor track is trickier to hold "safely" than outdoor track.
But a larger part of me thinks, if the NCAA can hold an indoor championships, why can't USATF? There are plenty of lower-tier pros who haven't had many competition/exposure opportunities, and now one of their biggest ones has been taken away. I know that holding a track meet with dozens of events, indoors, is challenging to pull off. But if USATF was really interested in holding this, they would figure out a way to do it.
I'd like to know how much money was a factor as well. Given how often ABQ has hosted in recent years, it doesn't seem like many indoor facilities are willing to bid. And ABQ was never going to be a great option given the current COVID restrictions (UNM's football and basketball teams haven't been allowed to play home games yet). Facilities like Arkansas or Texas A&M would be able to host this meet, but you need a local support and an organizing committee in place to do it.